What is Electric Bike Insurance
Electric bike insurance is a policy that protects your e-bike against damage, theft, or unexpected expenses arising from accidents or natural disasters. Since electric bikes use advanced and costly components, having insurance ensures you don’t bear heavy repair or replacement costs on your own.
As India moves toward sustainable and eco-friendly transportation, e-bikes are becoming a popular choice among riders. These battery-powered vehicles are clean, efficient, and easy to maintain. Just like your bike helps protect the environment, e-bike insurance safeguards your vehicle and finances from unforeseen risks.
Benefits of Purchasing Electric Bike Insurance
By purchasing an e-bike, you are already doing your bit to save the environment, but by securing it with e-bike insurance, you would be doing your bit to secure society as well. Here are some key benefits of purchasing an e-bike insurance policy.
Financial Security
Enhanced Coverage
Fulfilling the Legal Requirement
Peace of Mind
Types of Electric Bike Insurance Plans
There are three main types of EV bike insurance plans. These are as follows:
Third-Party E-Bike Insurance Plan
Standalone Own-Damage E-Bike Insurance Plan
Comprehensive E-Bike Insurance Plan
What is Covered Under E-Bike Insurance?
Covered in E-Bike Insurance
Not Covered in E-Bike Insurance
Third-Party Premium Rates in India
As per the IRDAI guidelines, the third-party electric bike insurance premium rates are given below for single and multi-year policies. The price of third-party electric bike insurance is decided based on the battery capacity of the two-wheeler:
How to Calculate E Bike Insurance Premium Online?
Using the below steps, you can find the estimated bike insurance premium from the bike insurance premium calculator provided by the Policybazaar:
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Enter Your Bike Details
Visit Policybazaar.com and open the Bike Insurance Calculator. Select your bike’s make, model, variant, ex-showroom price, and year of purchase. -
Provide Registration & Claim Info
Select your city or RTO of registration and mention whether you’ve made any claims in the previous policy term. -
Get Instant Premium Quotes
The calculator will instantly show the estimated premium for your selected bike model. Moreover, it gives you an option to get various two wheeler insurance plans from multiple insurers. Compare options based on coverage and premium, then choose the one that best fits your needs.
How to Buy/Renew E Bike Insurance Policy Online?
The e-bike insurance plan comes with a tenure of 1 year or 3 years. After this period, the insurance policy for electric two wheeler lapses. To continue with the policy benefits, you must renew it before its expiry. Here is how you can renew your electric bike insurance online.
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Visit the official website of Policybazaar Insurance Brokers Pvt. Ltd.
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Visit the e-Bike Insurance page.
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Enter your registered electronic bike's number and click ‘View Prices.'
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You will be displayed different e-bike insurance plans from which you can choose the most suitable one.
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Include the add-ons, like zero depreciation cover, personal accident cover, etc., per your requirement and check the final premium price.
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Pay the premium for e-bike insurance using UPI, credit/debit card, net banking, etc.
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Once you make the payment, you will receive a confirmation email for your e-bike insurance renewal.
How to Raise a Claim for Electric Bike Insurance?
One of the purposes of your electric bike insurance plan is to get a claim for any unforeseen damage or loss. In order to get a claim for an e-bike, follow the steps below.
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Inform your insurance company about the damage caused to your electric vehicle, be it in an accident or due to natural calamity or any other covered reason.
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Do not move your car. Take pictures of the damage caused to your two-wheeler from all angles and keep them as proof. It will also help you get the online claim for your e-bike easily.
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In order to settle a claim, the insurer requires a claim form and a set of documents that you must keep handy.
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The insurance company will send a surveyor to inspect the damage. Once they have checked the damages and are satisfied, they will create and forward their report for the claim process.
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Once approved, you will receive the agreed claim amount for your e-bike.
Why Choose Policybazaar for Electric Bike Insurance?
Policybazaar.com makes it quick and convenient to stay legally compliant. Here are the reasons why you should buy third-party bike insurance online from us:
FAQs About E Bike Insurance
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Q. Is it necessary to purchase an insurance plan for the electric bike?
Ans: As per the Motor Vehicle Act 1988, it is mandatory to purchase a third-party insurance plan for your e-bike; however, it would be up to you if you want to purchase comprehensive e-bike insurance or not. -
Q. Will the insurance company send an inspector to inspect the damage?
Ans: Yes, once you inform your insurance company about the damage caused to the e-bike the insurer will send an inspector to inspect the e-bike and check if you have not raised a false claim. -
Q. Which documents must be carried while riding the e-bike apart from the electric bike insurance?
Ans: The e-bike owner must carry a driving license, registration certificate, apart from e-bike insurance. -
Q. Is it necessary to carry the Pollution under control certificate while riding the e-bike?
Ans: No, it is not required to carry pollution under control certificate while riding an e-bike and PUC certificates are required to carry by petrol engine bikes that release harmful smoke in the environment however, an e-bike runs on battery that is charged using electricity and does not release smoke and this is why an e-bike owner is not required to carry a PUC while riding an e-bike. -
Q. Will the insurance company provide cover if the accident takes place when I do not have my valid driving license with me.
Ans: The insurance company will not provide coverage for the loss or damage caused to your bike in an accident if you are found without a valid driving license.
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